Self-Financing Roads

1. Person: Verhoef, Erik T.
Weitere Personen: Mohring, Herbert
Format: Online-Artikel
Sprache: English
Veröffentlicht: Tinbergen Institute 2007
Serien: Tinbergen Institute Discussion Paper
Schlagworte: Verkehrsstau
Straßenbenutzungsgebühr
Verkehrsplanung
Straßenbaufinanzierung
Verkehrsökonomik
Theorie
Traffic congestion
Transport planning
Theory
Online Zugang: https://www.econstor.eu/bitstream/10419/86266/1/07-068.pdf
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id
oai_econstor.eu_10419-86266
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Self-Financing Roads
spellingShingle
Self-Financing Roads
Verkehrsstau
Straßenbenutzungsgebühr
Verkehrsplanung
Straßenbaufinanzierung
Verkehrsökonomik
Theorie
Traffic congestion
Transport planning
Theory
Verhoef, Erik T.
Tinbergen Institute Discussion Paper
title_short
Self-Financing Roads
title_full
Self-Financing Roads
title_fullStr
Self-Financing Roads
title_full_unstemmed
Self-Financing Roads
title_sort
Self-Financing Roads
format
electronic Article
format_phy_str_mv
Paper
publisher
Tinbergen Institute
publishDate
2007
language
English
topic
Verkehrsstau
Straßenbenutzungsgebühr
Verkehrsplanung
Straßenbaufinanzierung
Verkehrsökonomik
Theorie
Traffic congestion
Transport planning
Theory
topic_facet
Traffic congestion
Transport planning
Theory
author
Verhoef, Erik T.
author2
Mohring, Herbert
author2Str
Mohring, Herbert
description
Mohring and Harwitz (1962) showed that, under certain conditions, an optimally designed and priced road would generate user toll revenues just sufficient to cover its capital costs. Several scholars subsequently explored the robustness of that finding. This paper briefly summarizes further research on the relationship between congestion-toll revenues and road costs. Despite its transparency, the self-financing theorem can lead to erroneous interpretations. The paper’s second part discusses three such possible fallacies. It uses a simple numerical model to investigate them. The model shows that the naïve interpretation of the Mohring-Harwitz rule may lead to substantial welfare losses. These losses are particularly prominent when the difference between capital and investment cost is confused and when balanced-budget constraints are imposed under second-best network conditions. In contrast, losses from imposing a balanced-budget constraint when economies or diseconomies of scale exist are surprisingly small.
url
https://www.econstor.eu/bitstream/10419/86266/1/07-068.pdf
series
Tinbergen Institute Discussion Paper
seriesStr
Tinbergen Institute Discussion Paper
Tinbergen Institute Discussion Paper
series2
Tinbergen Institute Discussion Paper
series2_facet
Tinbergen Institute Discussion Paper
up_date
2019-11-15T03:54:27.573Z
_version_
1650238534035963904

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